Transferability of SARs. The SARs awarded under this Agreement are transferable only by will or the laws of descent and distribution, or pursuant to a domestic relations order (as defined in Code Section 414(p)). Each SAR will be exercisable during the Participant’s lifetime only by the Participant or by his or her guardian or legal representative. The Committee may, in its discretion, require a guardian or legal representative to supply it with evidence the Committee deems necessary to establish the authority of the guardian or legal representative to exercise a SAR on behalf of the Participant.
Appears in 3 contracts
Samples: Stock Appreciation Rights Agreement (Plato Learning Inc), Stock Appreciation Rights Agreement (Plato Learning Inc), Stock Appreciation Rights Agreement (Plato Learning Inc)
Transferability of SARs. The Except to the extent the Committee allows SARs awarded under this Agreement are to be transferred to a Permitted Transferee, the SARs shall not be transferable only by the SAR Holder, except by will or pursuant to the laws of descent and distribution. Shares issuable pursuant to the exercise of the SARs shall be delivered only to or for the account of the SAR Holder, or pursuant in the event of the SAR Holder's incapacity, to a domestic relations order (as defined in Code Section 414(p)). Each the SAR will be exercisable during the Participant’s lifetime only by the Participant or by his or her Holder's guardian or legal representative. The Committee may, in its discretion, require a guardian or legal representative to supply it with evidence the Committee deems necessary to establish the authority of the guardian or legal representative to exercise a SAR on behalf of the Participant.S
Appears in 1 contract
Samples: Stock Appreciation Right Award Agreement (Crossfirst Bankshares, Inc.)
